The Beginners Guide To Bitcoin – Everything You Need To Know, by @mattuk ~~ Helpful

In February 2013, version 0.8.0 of Bitcoin was released . This virtual payments system is the financial equivalent of Latin, the language with no native speakers. In the case of Bitcoin, though, what you are dealing with is a financial structure with no central bank, no one regulatory body as such, and no physical form. That may sound odd – so let’s look in more detail at Bitcoin, how it works, and what its future might be. What is Bitcoin? The brief description of Bitcoin given above is overly simplistic, and as you might expect, there’s plenty of thought behind this means of paying for goods and services – it is, by no means, an unregulated system. In principle though, its features are as follows : Bitcoins can be transferred across the network via peer-to-peer (i.e. like a BitTorrent); Transactions cannot be reversed; A block chain prevents double spending (the Bitcoin ...